Apple Inc. (NASDAQ:AAPL) shares, rose in value on Friday, 02/10/23, with the stock price up by 0.09% to the previous day’s close as strong demand from buyers drove the stock to $151.01.
Actively observing the price movement in the last trading, the stock closed the session at $150.87, falling within a range of $149.22 and $151.34. The value of beta (5-year monthly) was 1.28 whereas the PE ratio was 25.66 over 12-month period. Referring to stock’s 52-week performance, its high was $179.61, and the low was $124.17. On the whole, AAPL has fluctuated by 13.12% over the past month.
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With the market capitalization of Apple Inc. currently standing at about $2334.47 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 26, 2023 – May 01, 2023. The company’s Forward Dividend Ratio is 0.92, with its dividend yield at 0.61%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.13, which is expected to increase to $1.77 for fiscal year $6.43 and then to about $6.9 by fiscal year 2024. Data indicates that the EPS growth is expected to be 5.20% in 2024, while the next year’s EPS growth is forecast to be 7.30%.
Analysts have estimated the company’s revenue for the quarter at $128.38 billion, with a low estimate of $122.77 billion and a high estimate of $135.4 billion. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $411.77 billion, representing an increase of 4.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AAPL’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 3.15, with the price of AAPL currently trading nearly 5.05% and 8.48% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 62.71, while the 7-day volatility ratio is showing 2.17% which for the 30-day chart, stands at 2.57%. Furthermore, Apple Inc. (AAPL)’s beta value is 1.31, and its average true range (ATR) is 4.04.
A comparison of Apple Inc. (AAPL) with its peers suggests the former has fared considerably weaker in the market. AAPL showed an intraday change of 0.09% in last session, and over the past year, it shrunk by -14.34%%. In comparison, Microsoft Corporation (MSFT) has moved lower at -0.20% on the day and was down -15.46% over the past 12 months. On the other hand, the price of Alphabet Inc. (GOOG) has fallen -0.63% on the day. The stock, however, is off -32.94% from where it was a year ago. Additionally, there is a loss of -0.46% for Alphabet Inc. (GOOGL) in last trading while the stock has seen an overall depriciation of -33.21%% over the past year. The PE ratio stands at 25.66 for Apple Inc., compared to 29.25 for Microsoft Corporation, and 18.21 for Alphabet Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.22%. Meanwhile, the Dow Jones Industrial Improved by 0.50%.
Data on historical trading for Apple Inc. (NASDAQ:AAPL) indicates that the trading volumes over the past 10 days have averaged 82.4 million and over the past 3 months, they’ve averaged 77.53 million. According to company’s latest data on outstanding shares, there are 15.89 billion shares outstanding.
Nearly 0.07% of Apple Inc.’s shares belong to company insiders and institutional investors own 60.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 121.87 million shares as on Jan 12, 2023, resulting in a short ratio of 1.47. According to the data, the short interest in Apple Inc. (AAPL) stood at 0.77% of shares outstanding as of Jan 12, 2023; the number of short shares registered in Dec 14, 2022 reached 121.76 million. The stock has risen by 16.22% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AAPL stock heading into the next quarter.